Commenting on the news that the White House unexpectedly withdrew its nomination of Jared Isaacman — founder and outgoing CEO of Shift4 Payments (FOUR) — to lead NASA following a “thorough review of prior associations,” BofA says this announcement comes as a “surprise” given how far along Isaacman was in the confirmation process, and Shift4 has yet to comment on how this news will impact the company’s ongoing CEO transition plan. While Shift4’s Q1 results came in strong at the helm of President and incoming CEO Tayler Lauber, the firm believes Isaacman’s return to Shift4 would be well-received by investors. Amid the CEO transition uncertainty, pending Global Blue integration, and an ample roster of organic initiatives, BofA is mindful of potential execution risk. The firm maintains a Neutral rating on the shares with a price target of $100.
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Read More on FOUR:
- B. Riley sees Jared Isaacman returning to Shift4 Payments
- Shift4 CEO nomination withdrawal at NASA could provide a boost, says Benchmark
- Trump withdraws Jared Isaacman’s nomination to lead NASA
- Shift4 Payments initiated with a Hold at Truist
- Shift4 Payments further extends cash tender offer to acquire Global Blue
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